Close Menu
Energy NewsEnergy News
  • NEWS
    • Breaking News
    • Hydrogen
    • Energy Storage
    • Grid
    • SMR
    • Projects
    • Production
    • Transport
    • Research
  • SPOTLIGHT
    • Interviews
    • Face 2 Face
    • Podcast
    • Webinars
    • Analysis
    • Columnists
    • Reviews
    • Events
  • REGIONAL
    • Africa
    • Americas
    • Asia
    • Europe
    • Middle east
    • Pacific
  • COMMUNITY
  • ABOUT
    • Advisory Board
    • Contact us
    • Report Your News
    • Advertize
    • Subscribe
LinkedIn X (Twitter) YouTube Facebook
Trending
  • India’s Merchant Battery Storage Market Turns Profitable Amid Price Volatility and Falling Costs
  • High Energy Costs Threaten Decarbonization Strategy as ArcelorMittal Abandons Green Projects
  • Chinese Engineering Giant Secures World’s Largest Green Ammonia Project
  • Oman’s Local Assembly Strategy Tests Regional Hydrogen Hub Ambitions
  • Sulphate Salts May Hold Key to Scaling Aqueous Battery Lifespan for Grid-Scale Storage
  • US Green Hydrogen Extension Faces Economic Reality: Two-Year Window May Not Bridge Competitiveness Gap
  • India’s Energy Storage Market Breakthrough: Record 8.1 GWh Monthly Tender Volume Drives Tariff Competition to ₹3.13/Unit
  • Hyundai’s New Hydrogen Car Deal: Does It Solve the Real Problems?
LinkedIn X (Twitter) YouTube Facebook
Energy NewsEnergy News
  • NEWS
    • Breaking News
    • Hydrogen
    • Energy Storage
    • Grid
    • SMR
    • Projects
    • Production
    • Transport
    • Research
  • SPOTLIGHT
    • Interviews
    • Face 2 Face
    • Podcast
    • Webinars
    • Analysis
    • Columnists
    • Reviews
    • Events
  • REGIONAL
    • Africa
    • Americas
    • Asia
    • Europe
    • Middle east
    • Pacific
  • COMMUNITY
  • ABOUT
    • Advisory Board
    • Contact us
    • Report Your News
    • Advertize
    • Subscribe
Energy NewsEnergy News
Home Home - Breaking News
Green Hydrogen H2 News

Hanwha Group Cuts Ties with Nikola

Arnes BiogradlijaBy Arnes Biogradlija06/06/20232 Mins Read
Share
LinkedIn Twitter Facebook Email WhatsApp Telegram

Hanwha Group, a South Korean conglomerate, has made headlines by selling its complete stake in Nikola, a U.S. hydrogen truck company.

The announcement came via a securities filing released by Hanwha Solution on December 31. The filing stated that Hanwha Energy and Hanwha Impact have finalized the sale of all remaining shares in Nikola.

Hanwha Energy and Hanwha Impact had initially invested $2018 million (approximately 11 billion won at the time) in Nikola on November 1, securing a significant 1200.5% stake consisting of 9.2213 million shares. With Nikola’s listing on the Nasdaq in 2020, the value of Hanwha’s stake skyrocketed, reaching a peak of 2.6000 trillion won.

However, the situation took a dramatic turn when a hedge fund report alleged that Nikola’s hydrogen technology was fraudulent. This accusation triggered investigations by the U.S. Securities and Exchange Commission (SEC) and the Department of Justice. In the midst of the controversy, Nikola’s founder, Trevor Milton, resigned, further eroding public confidence. The company’s market value also experienced a sharp decline. In October of the same year, Milton was found guilty of fraud.

Hanwha had already sold approximately half of its stake in Nikola in 2010 but retained the remaining shares until recently. Considering the stock price of Nikola during the initial and subsequent stake sales, it is estimated that Hanwha managed to avoid significant losses on its investment.

The decision to divest from Nikola highlights the challenges faced by the hydrogen truck industry, particularly amid controversies and allegations that impact the credibility and viability of companies operating in this sector. It also underscores the importance of thorough due diligence and critical evaluation when investing in emerging technologies.

While Hanwha’s move signifies a setback for Nikola, it serves as a reminder for investors to exercise caution and discernment when navigating the dynamic landscape of alternative energy transportation. The hydrogen truck market, with its potential for clean and sustainable logistics, continues to attract interest and investment from various stakeholders. However, as this case demonstrates, prudent scrutiny and adherence to transparency are crucial to ensuring long-term success and sustainability in this field.

Share. LinkedIn Twitter Facebook Email

Related Posts

hydrogen

India’s Merchant Battery Storage Market Turns Profitable Amid Price Volatility and Falling Costs

05/08/2025
Sustainable Green

High Energy Costs Threaten Decarbonization Strategy as ArcelorMittal Abandons Green Projects

05/08/2025
Ammonia

Chinese Engineering Giant Secures World’s Largest Green Ammonia Project

05/08/2025
hydrogen

Oman’s Local Assembly Strategy Tests Regional Hydrogen Hub Ambitions

05/08/2025
Sulphate Salts May Hold Key to Scaling Aqueous Battery Lifespan for Grid-Scale Storage

Sulphate Salts May Hold Key to Scaling Aqueous Battery Lifespan for Grid-Scale Storage

05/08/2025
Green Hydrogen

US Green Hydrogen Extension Faces Economic Reality: Two-Year Window May Not Bridge Competitiveness Gap

04/08/2025
hydrogen

India’s Merchant Battery Storage Market Turns Profitable Amid Price Volatility and Falling Costs

05/08/2025
Sustainable Green

High Energy Costs Threaten Decarbonization Strategy as ArcelorMittal Abandons Green Projects

05/08/2025
Ammonia

Chinese Engineering Giant Secures World’s Largest Green Ammonia Project

05/08/2025
hydrogen

Oman’s Local Assembly Strategy Tests Regional Hydrogen Hub Ambitions

05/08/2025

Subscribe to Updates

Get the latest news from the hydrogen market subscribe to our newsletter.

LinkedIn X (Twitter) Facebook YouTube

News

  • Inteviews
  • Webinars
  • Hydrogen
  • Spotlight
  • Regional

Company

  • Advertising
  • Media Kits
  • Contact Info
  • GDPR Policy

Subscriptions

  • Subscribe
  • Newsletters
  • Sponsored News

Subscribe to Updates

Get the latest news from EnergyNewsBiz about hydrogen.

© 2025 EnergyNews.biz
  • Privacy Policy
  • Terms
  • Accessibility

Type above and press Enter to search. Press Esc to cancel.